Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 124

  (1)   This section sets out the modified halving rules.

Scope

  (2)   This section applies to an application for renewal that is covered by item   3 of the table in subsection   122(2).

  (2A)   Subsection   (2) has effect subject to subsection   122(3).

Modification of standard halving rules

  (3)   The modified halving rules are the rules set out in subsections   123(3), (4), (5), (7), (8), (9) and (10), modified as follows:

  (a)   if the maximum number of blocks in relation to which an application for renewal of a permit may be made in accordance with those rules is less than 16, the Joint Authority may, by written notice given to the permittee:

  (i)   tell the permittee that the number of blocks in relation to which the application may be made is such number, not more than 16, as is specified in the notice; and

  (ii)   give such directions as the Joint Authority thinks fit about the blocks in relation to which the application may be made;

  (b)   if a permit is in force in relation to only one block, an application may be made for renewal of the permit in relation to that block.